COVID-19’s resulting economic downturn is forcing employers of all sizes to face the moral and financial dilemma of considering furloughs or other types of approved leaves of absences to reduce immediate payroll. Others are opting to implement systemic workforce reductions.
Different employment actions produce different employee benefits consequences that must be part of any employment decisions. If you’re an employer, the Society for Human Resource Management (SHRM) recommends you consider this list of key issues as you evaluate your employee benefits programs with an eye toward reducing payroll costs.
